Description

Time-of-Day Scalper EA

Short Tagline: A statistical scalping strategy that exploits recurring intraday time-of-day tendencies…

Short Description:
Time-of-Day Scalper EA is a fully automated scalping / time-based statistical. Expert Advisor for MT4 and MT5. A statistical scalping strategy that exploits recurring intraday time-of-day tendencies (e. Built-in risk controls and market filters keep execution disciplined across live and demo accounts.

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Overview

A statistical scalping strategy that exploits recurring intraday time-of-day tendencies (e.g., a reliable directional drift during a specific hour). It trades a fixed time window with a short holding period, relying on a documented time-based edge rather than classic indicator signals.

Features

• Time window logic (primary driver)
• Micro EMA (e.g., 8) for direction bias
• ATR(14) for stop/target sizing
• Configurable stop-loss, take-profit, and trailing logic
• Session, spread, and news-time filters for disciplined execution
• One-trade-per-bar / duplicate-signal protection
• Clean, single-file MQL4 and MQL5 implementations
• No hidden logic — every input is exposed and documented
• No martingale, no grid, no hidden recovery logic

Trading Strategy

Entry logic: – Only during a configured high-edge time window (derived from historical hour-of-day statistics).

• Long: at window start, if micro-EMA slope and last-candle bias are up, enter long.
• Short: mirror. One trade per window by default.

Exit logic: – Exit at a fixed pip/point target, fixed time-in-trade, or window end — whichever comes first.

Stop-loss: Tight fixed SL (e.g., 0.8 × ATR of the M5) appropriate for scalping.

Take-profit: Small fixed TP (e.g., 1-1.5 × the SL distance); scalps aim for quick, modest gains.

Trailing stop: Optional tight trailing stop after 0.7R; many scalps use fixed exits instead.

Break-even: Break-even at 0.5R (fast protection).

Why it works: Orthogonal, time-based edge.; Short exposure; many opportunities..

Recommended Settings

• Timeframes: M1, M5.
• Instruments: EURUSD, GBPUSD, USDJPY, US30, GER40.
• Account type: ECN/Raw spread accounts preferred
• Minimum recommended balance: $500+ (adjust lot sizing to your risk tolerance)
• VPS: Recommended for 24/5 uptime and consistent execution
• Risk management: Risk 0.5% per trade (higher frequency). Daily loss limit and max trades per day. Max 1 open.

Supported Markets

Liquid forex majors and index CFDs with stable intraday patterns.

Supported Brokers

Compatible with any regulated MT4 or MT5 broker offering standard order execution (market or instant execution). Works with ECN, STP, and standard account types. No broker-specific dependencies.

Installation Guide

1. Download the .ex4 (MT4) or .ex5 (MT5) file from your purchase delivery.
2. Open MetaTrader, go to File → Open Data Folder.
3. Copy the file into MQL4/Experts (MT4) or MQL5/Experts (MT5).
4. Restart MetaTrader or right-click Expert Advisors in the Navigator and select Refresh.
5. Drag the EA onto the chart of your chosen symbol and timeframe.
6. Enable Allow live trading (and Allow DLL imports if prompted) in the Common tab.
7. Adjust inputs to match your risk profile, then click OK.
8. Confirm AutoTrading is enabled in the toolbar.

• Session filter: Core mechanism — trade only the statistically favorable window(s); handle broker time/DST.
• Spread filter: Strict: reject if spread > 1.2 pips / 1 index point; spread is critical for scalps.
• News filter: Hard-block the window if high-impact news is scheduled within it.
• Volatility filter: Require ATR within a band — enough to hit TP, not so much that stops are noise.

Risk Disclaimer

Trading forex and CFDs carries a high level of risk and may not be suitable for all investors. Past performance, backtest results, and simulated outcomes are not indicative of future results. This EA does not guarantee profits. Always test thoroughly on a demo account before deploying real capital, and never risk funds you cannot afford to lose.

Version

v1.0.0

Support

Support is provided through the marketplace messaging system. Please include your broker, symbol, timeframe, and EA version when reporting an issue.

Updates

Free updates are provided for bug fixes and compatibility improvements. Feature updates may be released as versioned upgrades.

FAQ

Q: Does this EA work on both MT4 and MT5?
A: Yes, separate optimized builds are provided for each platform.

Q: Can I run this on multiple pairs at once?
A: Yes, attach separate instances to separate chart/symbol combinations.

Q: Does it use martingale or grid recovery?
A: No. This is a pure signal-based strategy with defined risk per trade.

Q: What timeframe works best?
A: M1, M5. for the cleanest signals, but the EA can run on other timeframes with adjusted inputs.

Q: Is a VPS required?
A: Not required, but strongly recommended for uninterrupted 24/5 operation.